“Will Ferrell epitomizes what it means to be a comedic genius and it’s only fitting that he should be the inaugural recipient of this award,” said Stephen Friedman, President of MTV. “Over the course of his extraordinary, 17-plus-year career, he has entertained audiences across the globe with an impressive array of laugh-out-loud performances on air, online and in films. Simply put, Will Ferrell is ‘kind of a big deal.’ “

An actor, comedian, writer and cowbell enthusiast, Ferrell has starred in a slew of guffaw-worthy flicks, including “Old School,” “Elf,” “Anchorman: The Legend of Ron Burgundy” and “Step Brothers.”

The California native sank his comedy teeth in the Los Angeles-based improv troupe The Groundlings, before landing his big break on NBC’s “Saturday Night Live” in 1995. Over the course of seven years, Ferrell honed an impressive repertoire of real and fictitious characters, including Spartan cheerleader Craig, music teacher Marty Culp, Janet Reno, “Jeopardy!” host Alex Trebek and President George W. Bush. Ferrell was nominated for an Emmy in 2001 for his work on the sketch show. In 2007, he launched the user-generated comedy site Funny or Die. Ferrell will reprise his role of Ron Burgundy in “Anchorman: The Legend Continues,” slated for a 2013 release.

Ferrell is no stranger to the Movie Awards stage, having earned three nominations in 2007: Best Fight (“Blades of Glory”), Best Comedic Performance (“Blades of Glory”) and Best Kiss (“Talladega Nights: The Ballad of Ricky Bobby”). He won the latter alongside co-star Sacha Baron Cohen.

The full list of this year’s nominees will be announced during a “2013 MTV Movie Awards Nominations Spectacular,” on Tuesday, March 5. Hosted by MTV’s Josh Horowitz and Movie Awards star Wilson, the event will kick off on MTV at 7:58 p.m. ET, with the Movie of the Year nominees announcement, followed by a 30-minute live stream on MTV.com, where nominees for Best Kiss, Best Fight and new categories Best Shirtless Performance and Best Musical Moment will be announced. Voting will begin immedately afterwards at MovieAwards.MTV.com.

Will Bella’s swan song include a fifth Best Kiss trophy? Which beefcake will sizzle in our brand-new Best Shirtless Performance category? It’s up to you to decide the winners of the 2013 MTV Movie Awards! Vote beginning March 5, and tune in Sunday, April 14 at 9 p.m. ET, as star Rebel Wilson takes the stage at the Sony Pictures Studios lot in Culver City, California.